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Kraft Heinz Gets Ready To Redeem Warren Buffet’s Investment

May 31, 2016: 12:00 AM EST
After major moves to cut both operational and financing costs, Kraft Heinz stock is up 16 percent this year, outperforming the S&P 500 packaged food index, which is up 6.8 percent. Warren Buffet’s Berkshire Hathaway company invested $8 billion in the deal three years ago that ultimately created Kraft-Heinz, which has been paying him a nine percent annual dividend – $720 million. But that’s all about to end as Kraft-Heinz is getting ready to redeem Berkshire’s preferred shares to the tune of about $8.3 billion: “good news for Kraft-Heinz, but bad news for Berkshire,” as Buffet told investors recently.
Noah Buhayar, "Buffett Awaits $8 Billion of ‘Bad News’ With Kraft Heinz Payment", Bloomberg.com, May 31, 2016, © Bloomberg LLC
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